Robert W. Baird Increases Atlassian (NASDAQ:TEAM) Price Target to $200.00

Atlassian (NASDAQ:TEAM) had its price objective increased by Robert W. Baird from $175.00 to $200.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

TEAM has been the topic of several other research reports. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research note on Friday. Morgan Stanley increased their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a research note on Thursday, July 11th. Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, BMO Capital Markets upped their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $243.16.

Atlassian Stock Up 19.0 %

Shares of Atlassian stock traded up $35.81 during trading on Friday, reaching $224.35. The company had a trading volume of 9,591,126 shares, compared to its average volume of 1,914,822. The company has a market cap of $58.34 billion, a price-to-earnings ratio of -147.60 and a beta of 0.71. The firm’s fifty day moving average is $173.30 and its 200-day moving average is $171.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.21) EPS. On average, analysts anticipate that Atlassian will post -0.58 EPS for the current year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Heather Mirjahangir Fernandez sold 750 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $185.50, for a total transaction of $139,125.00. Following the sale, the director now owns 10,110 shares of the company’s stock, valued at $1,875,405. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock worth $39,155,661 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management lifted its position in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Atlassian in the 1st quarter valued at approximately $40,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.